Substitute Trustees’ Sale: Commercial Office Building in NW Washington, DC
1129 20th St. NW. Washington, DC 20036
Under and by virtue of the power of sale contained in that certain Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing from 1129 20th Street NW Owner LLC (“Borrower”), dated as of December 22, 2020, and recorded with the District of Columbia Recorder of Deeds (“Land Records”) as Instrument No. 2020157918 for the benefit of CRED REIT HOLDCO TRS LLC, as modified or amended by that certain Omnibus Amendment to Deed of Trust and Assignment of Leases and Rents dated February 23, 2021 and recorded as Instrument No. 2021025000 among said Land Records, and as assigned to PREDF III Levered, LLC by that certain Assignment of Deed of Trust dated February 23, 2021 and recorded as Instrument No. 2021025001 among said Land Records, and as subsequently assigned to LIBERTY BUILDING OWNER, LLC (“Beneficiary”), by an Assignment of Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated June 11, 2024 in the Land Records as Instrument Number 2024054251 (collectively, the “Deed of Trust”), and that certain Notice of Foreclosure Sale of Real Property, which was recorded with the Recorder of Deeds on July 30, 2024 as Instrument No.: 2024070888 pursuant to Sections 42-815 and 42-818 of the D.C. Code, the holder of the indebtedness secured thereby, the Beneficiary, having appointed John T. Farnum and Jessica L. Duvall as Substitute Trustees by instrument duly executed, acknowledged and recorded among the Land Records as Instrument No. 2024055737, default having occurred under the terms of said Deed of Trust and at the request of the Beneficiary, the undersigned Substitute Trustees will offer the following property for sale at Public Auction. Sale to be held at the Offices of Alex Cooper Auctioneers, Inc., 4910 Massachusetts Avenue, NW, Suite 100, Washington, DC 20016 on September 5, 2024 at 11:30 AM.
PROPERTY DESCRIPTION (the “Real Estate”):
The land referred to herein below is situated in the District of Columbia, and described as follows:
Lot 75 in Square 117 in a subdivision made by Ralph L. Feltman and Ruth S. Feltman, as per plat recorded in Liber No. 154 at folio 17 in the Office of the Surveyor for the District of Columbia.
NOTE: At the date hereof, the above-described property is known for assessment and taxation purposes with the Office of the Assessor for the District of Columbia as Lot 0075 at Square 0117.
Such property also being known as 1129 20th Street NW, Washington, DC 20036.
FIXTURES
Pursuant to the Deed of Trust and the UCC-1s recorded in Land Records as Instrument Nos. 2020157920, 2021009934, 2021025003 and 2024054252, Beneficiary holds a security interest and lien on all of the tangible and intangible assets of Borrower and will sell at public auction on the same date and at the same time and place, ALL OF THE FIXTURES of Borrower located on or about the Real Estate that is subject to the security interest and lien of Beneficiary and not owned by any third party.
TOGETHER WITH any and all buildings, structures, improvements or appurtenances now erected on the Real Estate, including, without limitation, all equipment, apparatus, machinery and fixtures of any kind or character forming a part of said buildings, structures, improvements or appurtenances and located in, upon or about the Real Estate and any buildings thereon all as more particularly described in the Deed of Trust (collectively, the “Property”). The Property does not include any personal property owned by any tenants.
CONDITIONS OF SALE:
The Property will be sold in an “AS IS/WHERE IS” condition without any representations or express or implied warranties of any nature whatsoever. In particular, neither the Substitute Trustees nor the Beneficiary make any representation or warranty with respect to, without limitation: (1) the existence, nonexistence, or continued existence, validity, scope or nature of any zoning, land use, development, site plans, occupancy or other governmental permits or approvals; (2) fitness for any particular purpose or use; (3) flood zone designations; (4) compliance with any and all zoning or building laws, regulations and ordinances; (5) the fitness for habitation or the structural integrity or condition of any buildings or improvements; (6) ingress, egress or access to the Property or any portion thereof, whether vehicular, pedestrian or otherwise; (7) the rights of parties in possession, if any, or the existence, validity, terms, conditions or other matters with respect to any lease of all or any portion of the Property; (8) the existence of any security deposits or rental payments; (9) compliance with the Americans with Disabilities Act; or (10) the condition of the Property, either patent or latent, of any nature whatsoever, including environmental contamination.
Neither the Substitute Trustees nor the Beneficiary shall have any obligation to obtain possession of the Property. It shall be the purchaser’s obligation, at the purchaser’s sole cost, to obtain possession of the Property.
RISK OF LOSS, INSURABLE OR OTHERWISE, SHALL PASS TO THE PURCHASER IMMEDIATELY AND AUTOMATICALLY AT THE TIME OF SALE. Neither the Substitute Trustees nor the Beneficiary shall have any obligation to obtain or maintain any insurance coverage with respect to the Property.
The Property shall be sold subject to: (1) any easements, restrictions, declarations, site plans, and restrictive covenants of record affecting the same, including, but not limited to any and all condominium restrictions, declarations, bylaws and plats and amendments thereto; (2) any and all disclosures and conditions on any plats of record affecting all or any portion of the Property; (3) any encroachments, overlaps, boundary line disputes and other matters which could be disclosed by an accurate survey of the Property; (4) any matters which would be disclosed by a physical inspection of the Property; (5) any and all environmental conditions, problems and/or violations, if any, that may exist on, affect or relate to the Property or any buildings or improvements thereon; and (6) any and all zoning laws, regulations, PUD overlays, and ordinances or governmental permits or approvals affecting the Property (including without limitation any housing or building code violations, the existence of any lead paint, asbestos or radon or any other hazardous or toxic substances).
WAIVERS: The purchaser waives and releases the Substitute Trustees and the Beneficiary and each of their respective affiliates, agents, successors and assigns from any and all claims the purchaser may now have or may have in the future relating to: (1) any environmental condition or violation affecting all or any portion of the Property; (2) any existing or future building or zoning code problems or violations, and (3) the accuracy or validity of any information described herein.
IMPROVEMENTS: The Property is believed to be improved by a commercial office building.
PROPERTY DESCRIPTION (the “Real Estate”):
The land referred to herein below is situated in the District of Columbia, and described as follows:
Lot 75 in Square 117 in a subdivision made by Ralph L. Feltman and Ruth S. Feltman, as per plat recorded in Liber No. 154 at folio 17 in the Office of the Surveyor for the District of Columbia.
NOTE: At the date hereof, the above-described property is known for assessment and taxation purposes with the Office of the Assessor for the District of Columbia as Lot 0075 at Square 0117.
Such property also being known as 1129 20th Street NW, Washington, DC 20036.
FIXTURES
Pursuant to the Deed of Trust and the UCC-1s recorded in Land Records as Instrument Nos. 2020157920, 2021009934, 2021025003 and 2024054252, Beneficiary holds a security interest and lien on all of the tangible and intangible assets of Borrower and will sell at public auction on the same date and at the same time and place, ALL OF THE FIXTURES of Borrower located on or about the Real Estate that is subject to the security interest and lien of Beneficiary and not owned by any third party.
TOGETHER WITH any and all buildings, structures, improvements or appurtenances now erected on the Real Estate, including, without limitation, all equipment, apparatus, machinery and fixtures of any kind or character forming a part of said buildings, structures, improvements or appurtenances and located in, upon or about the Real Estate and any buildings thereon all as more particularly described in the Deed of Trust (collectively, the “Property”). The Property does not include any personal property owned by any tenants.
CONDITIONS OF SALE:
The Property will be sold in an “AS IS/WHERE IS” condition without any representations or express or implied warranties of any nature whatsoever. In particular, neither the Substitute Trustees nor the Beneficiary make any representation or warranty with respect to, without limitation: (1) the existence, nonexistence, or continued existence, validity, scope or nature of any zoning, land use, development, site plans, occupancy or other governmental permits or approvals; (2) fitness for any particular purpose or use; (3) flood zone designations; (4) compliance with any and all zoning or building laws, regulations and ordinances; (5) the fitness for habitation or the structural integrity or condition of any buildings or improvements; (6) ingress, egress or access to the Property or any portion thereof, whether vehicular, pedestrian or otherwise; (7) the rights of parties in possession, if any, or the existence, validity, terms, conditions or other matters with respect to any lease of all or any portion of the Property; (8) the existence of any security deposits or rental payments; (9) compliance with the Americans with Disabilities Act; or (10) the condition of the Property, either patent or latent, of any nature whatsoever, including environmental contamination.
Neither the Substitute Trustees nor the Beneficiary shall have any obligation to obtain possession of the Property. It shall be the purchaser’s obligation, at the purchaser’s sole cost, to obtain possession of the Property.
RISK OF LOSS, INSURABLE OR OTHERWISE, SHALL PASS TO THE PURCHASER IMMEDIATELY AND AUTOMATICALLY AT THE TIME OF SALE. Neither the Substitute Trustees nor the Beneficiary shall have any obligation to obtain or maintain any insurance coverage with respect to the Property.
The Property shall be sold subject to: (1) any easements, restrictions, declarations, site plans, and restrictive covenants of record affecting the same, including, but not limited to any and all condominium restrictions, declarations, bylaws and plats and amendments thereto; (2) any and all disclosures and conditions on any plats of record affecting all or any portion of the Property; (3) any encroachments, overlaps, boundary line disputes and other matters which could be disclosed by an accurate survey of the Property; (4) any matters which would be disclosed by a physical inspection of the Property; (5) any and all environmental conditions, problems and/or violations, if any, that may exist on, affect or relate to the Property or any buildings or improvements thereon; and (6) any and all zoning laws, regulations, PUD overlays, and ordinances or governmental permits or approvals affecting the Property (including without limitation any housing or building code violations, the existence of any lead paint, asbestos or radon or any other hazardous or toxic substances).
WAIVERS: The purchaser waives and releases the Substitute Trustees and the Beneficiary and each of their respective affiliates, agents, successors and assigns from any and all claims the purchaser may now have or may have in the future relating to: (1) any environmental condition or violation affecting all or any portion of the Property; (2) any existing or future building or zoning code problems or violations, and (3) the accuracy or validity of any information described herein.
IMPROVEMENTS: The Property is believed to be improved by a commercial office building.
Thursday
September 05, 2024 11:30am EDT
Auction to be held at the office of Alex Cooper Auctioneers, Inc., 4910 Massachusetts Avenue, NW Suite 100, Washington, DC 20016, on Thursday, September 5th, 2024 at 11:30AM.
Initial Deposit
$1,500,000
No online bidding
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